The President approved the Regulation on "Electronic mortgage"
Ilham Aliyev signed a Regulation on "Electronic mortgage". According to Turan, «Electronic mortgage" will be created in the "Portal of e-government" and is integrated into it.
The Regulation states that the electronic system will serve as a centralized view of electronic services in mortgage lending, obtaining the necessary documentation and information in electronic form.
Use of the new e-system o is to simplify access to mortgage credit, the creation of equal conditions for persons wishing to obtain a mortgage loan, to ensure transparency and efficiency when considering applications, and the ability to receive documents in real time, improving the quality of provided services. -71D-
Economics
-
Azerbaijan's financial standing continues to strengthen as the country's foreign currency reserves have surged to $71 billion as of January 1, 2025, according to the Ministry of Finance. This figure, which includes reserves held by the State Oil Fund of Azerbaijan (SOFAZ) and the Central Bank of Azerbaijan (CBA), far exceeds the nation's external debt, which stands at a fraction of its reserves, specifically nearly 14 times less. This robust reserve position reflects Azerbaijan's fiscal stability and the government’s strategic economic management.
-
According to operational data from the Ministry of Energy of Azerbaijan, in January 2025, the country produced 2.3 million tons of oil, including condensate, and 3.9 billion cubic meters of gas.
-
The State Oil Company of Azerbaijan (SOCAR) has opened a representative office in Albania and is set to launch a specific project this year, the Albanian company "Albgaz" announced.
-
"Azerbaijan is currently among 54 middle-income countries," said Shahmar Movsumov, head of the Economic Affairs and Innovative Development Policy Department of the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku on February 10.
Leave a review